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Author Topic: Is the bull market really coming?Boss predicts 16,000 by the end of the year?  (Read 188 times)

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Offline crystalJonesTopic starter

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Is the bull market really coming?Boss predicts 16,000 by the end of the year?


The market interpreted
Encryption analyst Mike McGlone said recently: "Bitcoin is now significantly undervalued based on one key on-chain indicator."The bitcoin hash rate continues to rise and recently reached a new high," he said.More importantly, the number of active addresses also went up.As a leading indicator of adoption, the 30-day average of bitcoin addresses since 2017 is equivalent to measuring prices on an automated scale of close to $15,000."McGlone has remained optimistic about Bitcoin despite its volatile price.He said Bitcoin was close to being a leader in the "shift to digital money and storage of value" and while he acknowledged that it could still fail, he did not think it was likely.He concluded, "Our graph charts the major chain indicators, with hash rates and active addresses, that need to be increased further to make the price of Bitcoin unsustainable.To be sure, the fundamentals in the bitcoin chain seem strong despite the recent sell-off, although it is impossible to know when/if these indicators will cause a price rebound.


BTC
BTC today's trend is neat, four hours yesterday in the morning market peatlands breakthrough level after the 90 cycle line average buying some callback, prices callback to 30 online yesterday night, was 30 line support, and again in a short time back to the 90 line, this is good news, the rebound will still be strong.In today, the market into the upper 200 line, temporarily suppressed, did not succeed, but also need more power to continue to go up, the volume is general, indicating that there are a lot of people did not enter, fortunately, the market has always maintained in the 90 line above.
This will form a unique shape, that is, the rising 90 line and the continuous pressure down the 200 line into a diagonal upward "convergence triangle" shape, will eventually force the market to face the direction of choice, wait and see.Current premium absolute value reached $177, compared to 174 yesterday, ascension is not much, premium than in 1.6% (premium refers to OK contract price minus the value of the current price premium than refers to contract minus the present value of the values divided by the current price), after two days of adjustment, changing in terms of litres of water is not big, can be seen from the volume on the market are still willing to give priority to with shock.However, due to the influence of the shape of "convergent triangle", it is expected that there will be market changes in a short time. We just need to wait patiently.Admission is not recommended for short periods of time.Upper resistance at 10847.2 and lower support at 10664.47.


ETH
Ether yesterday's rebound was 4 hours level 30 cycle average buy line after the suppression, yesterday evening prices broke through the 30 line to 90 line, trading volume is still ok, the strength of the rebound is larger, today's highest price to 357.8.In long span, the amplitude of the etheric is relatively large, fall and rose are greater than the currency, in the long run, should the appropriate use of this kind of volatility, to hold the etheric in the rising trend, hold the COINS in the downward trend, keep up to buy the volatility of currency, buy small currency volatility fell.
In the short term, ether has broken through the middle line position of "W" form, so at this time, it is suggested to use the middle line position of "W" form as the support to try to buy small funds at a low price.For partners who have already got on the bus, they can also use this method to add storage.Lower support at 346.85 and upper resistance at 364.15.


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